Not vested. From Dr. Check, The Standard HK:-
AviChina Industry & Technology (2357) is an interesting H share. The group is principally engaged in the research and development, manufacture and sale of civil aviation products and automobiles.
But its auto business has been in the red in the past three years, losing 1.15 billion yuan (HK$1.3 billion) in 2008. So in the middle of last year the group started to dispose its auto business.
Beijing has decided to invest in the development of large planes. The Commercial Aircraft Corporation of China was set up to engage in research and development of large passenger and new regional aircraft. AVIC, the controlling shareholder of AviChina, has invested 5billion yuan to become a major CACC shareholder.
Beijing has found deficiencies in the country's air rescue operations. This may be a chance for AviChina's Z-8 series helicopters to play an important role. Its CA109 helicopter is already being used by police.
An expected injection of assets from its parent pushed AviChina's share price to an all-time high of HK$2.93 in August. It closed at HK$2.57 yesterday. Although details of any asset injection are not known, its strong share price movement suggests confidence in the stock.